Bloomberg News

Elpida Rises on Report It Seeks to Ally With Micron Technology

January 18, 2012

Jan. 18 (Bloomberg) -- Elpida Memory Inc., a Japanese chipmaker reorganizing with government support, rose the most in almost two months in Tokyo trading after the Yomiuri reported it’s seeking a capital alliance with Micron Technology Inc.

Elpida gained as much as 13 percent, the biggest intraday advance since Nov. 25, before trading 7.6 percent higher at 327 yen as of 10:11 a.m. on the Tokyo Stock Exchange.

The Tokyo-based company told lenders it intends to boost its share in the market for dynamic random access memory chips jointly with Micron, the Yomiuri newspaper reported today, without saying where it got the information.

“The company isn’t the source of the information in the report,” Elpida said in a statement. Elpida is “discussing advanced payments and capital investments with customers and is in talks with banks over refinancing its borrowing to ensure its operations,” it said.

--Editors: Dave McCombs, Lena Lee

To contact the reporter on this story: Naoko Fujimura in Tokyo at nfujimura@bloomberg.net

To contact the editor responsible for this story: Michael Tighe at mtighe4@bloomberg.net


Tim Cook's Reboot
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus